When can the exchange of contracts happen for sale conveyancing in Southampton and am I required to be at the conveyancers office?
Where you are local to one of the conveyancing solicitors in Southampton you are welcome to come in to sign documents. However, the law practices we work with provide countrywide coverage for conveyancing and provide as equally diligent and professional a job for you when communicating with you electronically. The executing of the purchase agreement is not when everything is set in stone. A signed contract is necessary for the conveyancer to address the formalities when the time is right, which will usually be very shortly after signing. The exchange process is is usually a five minute process, although where a long "chain" is in the mix, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Southampton)to be in the office at the appropriate time.
We had instructed conveyancing lawyers locally in Southampton on the Aldermore solicitor approved list. They are now charging me a further fee for dealing with the Aldermore mortgage. Is this an additional conveyancing fee specified by Aldermore?
Provided it is contained in their Terms and Conditions or estimate then yes your conveyancer is entitled to levy a fee for this. The charge is not dictated by Aldermore but by your Southampton conveyancer. Some firms on the Aldermore panel will levy an ‘acting for lender’ fee but plenty of firms include it on their overall fee.
I had a mortgage agreed in principle with Principality. Southampton conveyancing practitioners are selected. What is the average time that one could expect to receive a mortgage offer from Principality?
There is no definitive answer here. Have Principality completed the survey? Have you advised Principality as to your lawyers' details and checked that your lawyers are on the Principality conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
We have agreed to purchase a house in Southampton. A rare aspect is that the roof has a solar panel. Coventry BS have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that your lender is Coventry BS your lawyer must check the conveyancing requirements set out in Part 2 of UK Finance Lenders’ Handbook for Coventry BS. The CML Handbook stipulates minimum requirements for solar panel roof-space leases, and property lawyers are required to report to Coventry BS where a lease fails to satisfy these provisions. The provisions relate to the installation of panels on properties countrywide and is not limited to Southampton.
Just bought a detached house in Southampton , What is the estimated time for the Land Registry to deal with the formalities evidencing my ownership? My Southampton conveyancing solicitor works at snail pace, so I want to be certain that my ownership is recorded.
There is nothing unique about conveyancing in Southampton registration formalities. Rather than based on location, timescales can adjust according to the party submitting the application, whether it is in order and if the Land registry must send notices to any third parties. At present roughly three quarters of such applications are fully addressed in less than three weeks but occasionally there can be extensive hold-ups. Historically registration occurs once the new owner has moved in to the property thus post completion formalities is not typically top priority but where it is urgent that the the registration takes place urgently then you or your conveyancer should contact the land registry and explain the circumstances.
I am buying a new build house in Southampton with a loan from Chelsea Building Society. The sellers refused to move on the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The sale representative told me not to tell my conveyancer about the extras as it may put at risk my loan with Chelsea Building Society. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
My business partner and I are wishing to take over a lease of an office on the high street. Can you recommend solicitors offering fixed charges for non-domestic conveyancing in Southampton for under 1500k?
We can recommend firms who have well rounded knowledge of commercial conveyancing in Southampton, including the sale and purchase of businesses as well as simply premises. Whether you are looking to acquire or sell a shop, pub, restaurant, office, retail premises or a whole business we can put you in touch with the right firm. As for the charges this will depend on the structure and complexity of the proposed transaction. Please provide us with your contact information or call so as to enable us to furnish you with a fixed commercial conveyancing quote.
I wish to sublet my leasehold flat in Southampton. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?
A lease dictates the relationship between the freeholder and you the leaseholder; in particular, it will set out if subletting is banned, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no expres ban or restriction, subletting is permitted. The majority of leases in Southampton do not prevent strict prohibition on subletting – such a provision would undoubtedly devalue the flat. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly sending a copy of the sublease.
Leasehold Conveyancing in Southampton - A selection of Questions you should consider Prior to Purchasing
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Is anyone aware of any major works in the planning that will add a premium to the maintenance fees? You should want to discover as much as you can concerning the company managing the building as they can either make living at the property much easier or problematic. As the proprietor of a leasehold property you are frequently at the mercy of the managing agents both financially and when it comes to every day matters such as the upkeep of the common parts. Don't be shy to ask other people what they think of them. In conclusion, find out the dates that the service charges are due to the managing agents and precisely what it includes. If a Southampton lease has less than eighty years it will impact the value of the flat. It is worth checking with your bank that they are willing to go ahead with the loan given the lease term. Leases with less than 80 years remaining means that you will almost definitely require a lease extension sooner rather than later and you need to have some idea of how much this will be. For most Southamptonlease extensions you would need to own the property for 24 months before you are legally able to extend the lease.